A leading global manufacturer of reproductive healthcare products, renowned for producing condoms and medical diagnostic kits since 1993, has secured significant international orders. The company’s latest development reveals substantial contracts for female contraceptives from three major markets – Brazil, South Africa, and Angola, marking an important expansion in their global presence.
Share Price Movement
The share price of Cupid Limited went up 2.05 percent to Rs. 70.55 per share on Thursday, an increase from its previous close of Rs. 69.13 per share. The market capitalisation now stands at approximately Rs. 1,036 crore as of February 13, 2025.
Order Update
Cupid Limited has secured female condom supply work orders worth Rs. 13.90 crores from Brazil, South Africa, and Angola. The company aims to fulfil these orders by Q1 FY26. Managing Director Aditya Kumar Halwasiya highlighted the growing demand for female condoms, emphasizing their value-accretive role in Cupid’s business.
Business Outlook
In March 2024, the company acquired land in Palava, Maharashtra, to expand its production capacity by 1.5 times. This will increase annual output by about 770 million male condoms and 75 million female condoms.
CUPID is a global leader, being the first to receive WHO/UNFPA pre-qualification for both male and female condoms. With exports to over 105 countries, international markets contribute more than 90 percent of its revenue.
Q2 Financial Highlights
In Q2FY25, the company reported revenue of Rs. 47 crore, reflecting a 30.6 percent YoY growth from Rs. 36 crore in Q2FY24 and a 6.8 percent QoQ increase from Rs. 44 crore in Q1FY25. Profit surged to Rs. 10 crore in Q2FY25, marking a 100 percent YoY rise from Rs. 5 crore in Q2FY24 and a 25 percent QoQ increase from Rs. 8 crore in Q1FY25. The company is set to announce its Q3 FY25 results tomorrow.
Competitors
Cupid’s competitors include Colgate-Palmolive, Hindustan Unilever (HUL), Godrej Consumer, Dabur India Ltd., and Procter & Gamble Hygiene, all of which operate in the personal care and consumer goods sector. These companies compete in product categories like healthcare, hygiene, and wellness.
Cupid is currently trading at a P/E of 20.06, which is below the industry P/E of 36.8.
Written By Fazal Ul Vahab C H
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